SpaceX ties Elon Musk paycheck to Mars city, $7.5T valuation
Business
SpaceX is tying Elon Musk's paycheck to some seriously big goals: building a city on Mars with over 1 million people and setting up data centers in space.
If he pulls it off, SpaceX could hit a $7.5 trillion valuation, and Musk would score 200 million super-voting shares.
This bold move lines up with the company's dream of making humans multi-planetary, and comes as it eyes an IPO around June 28, 2026.
Musk compensation tied to restricted shares
Musk's new deal isn't about cash: it's mostly restricted shares that only pay out if SpaceX hits huge milestones. He could lose them all if targets aren't met.
The setup also highlights the friendly rivalry between SpaceX and Tesla for Musk's attention as he juggles leading both companies into the future of tech and space exploration.